The global protein expression market is projected to reach USD 4.21 billion by 2028, at a CAGR of 10.21% from 2021 to 2028.
NEWARK, UNITED STATES, NEW JERSEY, November 16, 2021 /EINPresswire.com/ — As per the report published by The Brainy Insights, the global protein expression market is projected to grow from USD 1.91 billion in 2020 to USD 4.21 billion by 2028, at a CAGR of 10.21% over the forecast period 2021-2028. Asia Pacific is anticipated to grow at the highest CAGR over the forecast period. This is because contract research organizations are rapidly penetrating, and healthcare infrastructure is expanding in Asian countries like India and China.
Major players in the global protein expression market are Agilent Technologies Inc., Bio-Rad Laboratories, Inc., Genscript Biotech Corporation, Merck KGaA, New England Biolabs, Promega Corporation, Qiagen, Takara Bio Inc. and Thermo Fisher Scientific Inc. among others. Rising research in the pharmaceutical industry and growing proteomics prospects are factors driving growth in the global protein expression market.
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The system type segment is divided into prokaryotic expression systems, insect cell expression systems, mammalian cell expression systems, yeast expression systems, algal-based expression systems and cell-free expression systems. The prokaryotic expression systems segment held the largest market share of around 28.4% in 2020 because of the high production capacity, the low cost of production and its wide use.The product and service segment includes reagents, competent cells, expression vectors, instruments and services. The reagents segment held the largest market share of around 30.8% in 2020, Because of the large-scale development of vaccines and antibodies, and the increasing protein expression research activities. The application segment includes therapeutic applications, industrial applications, and research applications. The therapeutic applications segment held the largest market share of around 44.8% in 2020.This is due to the extensive usage of protein expression for the production of biologics. Such goods have high efficiency, accuracy, and quality in biologics production. This segment is also projected to grow at the fastest rate over the forecast timeframe owing to the growing popularity of therapeutic proteins over other drugs.
The end-user segment includes academic research institutes; pharmaceutical and biotechnology companies; contract research organizations (CROs); and other end users. The pharmaceutical and biotechnology companies are anticipated to grow at the fastest CAGR of around 11.8% over the forecast period. This is due to the large production of recombinant proteins for therapeutics and the increasing advancement of protein research technologies.
The main factor driving the market growth is projected to be the growing prevalence of many chronic diseases such as diabetes, arthritis, asthma, cancer and infectious diseases. Therefore, there is a high demand for advanced biologics such as therapeutic protein to cure chronic diseases like these. The producers use such goods extensively for the development and production of biologics. Therefore, growing competition for biologics will accelerate the adoption of protein expression products. However, the high market consolidation and the decline in R&D costs may impede the growth of the global protein expression market.
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Source: EIN Presswire